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FY22 Year End Closing

Summary

2022 Fiscal Year End Deadlines

Full Description

The closing schedule includes deadline dates for Procurement and Financial Operations.

You will note that some dates apply to all departments while others may only apply to a few specified departments. Your cooperation in adhering to these dates will enable us to comply with all State regulations and appropriately expend the remaining Fiscal Year 2022 funds allocated to W&M and VIMS.

Regardless of these deadline dates, please continue to systematically submit ALL documents as we will continue to process transactions in the normal operational manner as time permits. Departments should continue to process vendor payments, in a timely manner, to the Accounts Payable office throughout the month of June to ensure compliance with the Prompt Payment Act.

If transactions submitted during June are intended for Fiscal Year 2023 processing, please indicate "FY23" clearly on the documents.

DEADLINE

TRANSACTION TYPE

CONTACT

Friday
18-Feb-2022
5:00 p.m.
 (See Procurement Notes:1, 2, 3 & 4)

W&M and VIMS
Requisitions for non-contract goods, services, and equipment (including ETF),
exceeding $200,000,where competition is required

Procurement
Marra Austin,
W&M x17636

Tuesday
05-Apr-2022
5:00 p.m.
(See Procurement Notes: 2, 3, & 4)

W&M and VIMS
Requisitions of non-contract goods,
services, and equipment (including ETF)
less than $200,000

Procurement
Marra Austin,
W&M x17636

Monday
11-Apr-2022
5:00 p.m.
(See Procurement Notes: 2, 3, & 4)

W&M and VIMS
Requisitions for contracted goods
and services, up to and over $200,000. 
(Supplier lead time will be a factor)

Procurement
Marra Austin,
W&M x17636

Wednesday
08-Jun-2022
5:00 p.m.
(See Procurement Note 5)

W&M and VIMS
BOA VISA Small Purchase
Charge Card Purchases

Procurement
Laken Marley,
W&M x12513

Thursday
09-Jun-2022
6:00 p.m.

W&M and VIMS

Banner Payroll

Hourly and Student Employees

Time Sheets
Pay Period 11: 05/16/22 - 05/31/22

Supervisor's Approval
Friday
10-Jun-2022
10:00 a.m.

Payroll
W&M x12848

Thursday
09-Jun-2022
6:00 p.m.

W&M and VIMS

Banner Payroll

Salaried Employees

Time Sheets
Pay Period 11: 05/25/22- 06/09/22

Supervisor's Approval
Friday
10-Jun-2022
10:00 a.m.

Payroll
W&M x12848

Monday
13-Jun-2022
12:00 p.m.

VIMS Payroll Redistributions

VIMS Office of Finance
[[skpits, Suzanne Pitsillides]],
VIMS x7036

Monday
13-Jun-2022
12:00 p.m.

W&M Payroll Redistributions

Data Control
[[sdberr, Sherry Joyner]],
W&M x12835

[[nllewis, Star Lewis]],
W&M x11263

[[jhbacon, Jessica Bacon]],
W&M x11549

Tuesday
14-Jun-2022
5:00 p.m.

 (See Accounts
Payable Note: 1)

W&M/VIMS
Fiscal Vendor Check Request
(Direct pays, Reimb/Refunds/Honorariums) 
for indexes beginning with 1W or 2W, 1V or 2V

 Accounts Payable
Amber Brown,
W&M x12838

Wednesday
15-Jun-2022
5:00 p.m.

 W&M and VIMS
Chrome River Travel Transactions
(Deadline for indexes beginning with 1W or 2W
1V or 2V is Wednesday, 15-Jun-2022)

Travel
[[lmjarvis, LaDonna Brown]],
W&M x12836

Wednesday
15-Jun-2022
5:00 p.m.

 (See Accounts
Payable Note: 2)

W&M/VIMS
Fiscal Vendor Check Request
(Direct pays, Reimb/Refunds/Honorariums) 

 Accounts Payable
Amber Brown,
W&M x12838

 Thursday
16-Jun-2022
5:00 p.m.

 

W&M and VIMS
Transfer Invoices
Journal Vouchers/JV Fuploads
(Deadline for indexes beginning with 1W/2W or 1V/2V is Thursday, 16-Jun-2022)

Data Control
[[sdberr, Sherry Joyner]],
W&M x12835

[[nllewis, Star Lewis]],
W&M x11263

[[jhbacon, Jessica Bacon]],
W&M x11549

W&M OSP
[[djones01,Destiny Jones]]
W&M x11851

[[lmroney,Lisa Roney]]
W&M x13967

VIMS Office of Finance
Suzanne Pitsillides

VIMS x7036

Friday
24-Jun-2022
5:00 p.m.
(See Accounts Payable Note: 3)

W&M/VIMS
buyWM PO Invoices
(Deadline for indexes beginning with 1W/2W or 1V/2V is Wednesday, 15-Jun-2022)

Accounts Payable
Amber Brown,
W&M x12838

Tuesday
28-Jun-2022
3:00 p.m.

W&M and VIMS 
Deposit Transmittals

Final FY2022 Deposit Activity

Cashiering
[[txlock, Terri Jarrell]],
W&M x11227

**PROCUREMENT NOTES:

NOTE 1:  Depending on complexity of goods and services sought, a formal solicitation process is typically a 120-day execution and may extend beyond the current fiscal year.

NOTE 2: Purchase requests submitted after these dates, or where vendor lead time is a factor, risks inability of execution in current fiscal year. 

Purchase orders created in buyW&M for delivery and/or payment in the next fiscal year, FY 2023, should include a line item level comment that clearly states for the vendor’s benefit that budget for payment is not available until July 1 and delivery should be made on or after that date.  A Purchase Order with the accounting date set on or after July 1, 2022 (please refer to the Ordering How to Guide in Box) will immediately transmit to the vendor; however, the budget encumbrance will go into a holding table until July 1, 2022, after which FY23 PO’s will be completed in Banner for encumbrance against the new fiscal year.

NOTE 3: FY22 (and prior) Equipment Trust Fund (ETF) purchase items and system components must be received and paid in full by the University before a reimbursement request is submitted to SCHEV for processing. All ETF purchases should be processed through Procurement and follow year-end deadlines.

NOTE 4:  Requisitions must identify the fiscal year for which the purchase is intended.

NOTE 5:  Purchases made using the Bank of America VISA Small Purchase Charge Card (SPCC) should be processed by the vendor by June 8, 2022, to make every effort that the transaction posts to your card account by the close of the June 15th VISA billing cycle.  The processing date for charge card transactions is dependent upon the merchant’s accounting practices and could take anywhere from 1 to 4 days for the transaction to post and be included in your June statement.

**ACCOUNTS PAYABLE NOTES:

NOTE 1:  Invoices paid by 1W/2W and 1V/2V indexes must be submitted and approved by June 14, 2022, to be processed in FY2022.  Invoices submitted after this deadline will export to Banner after FY2023 opens in July.

NOTE 2:  Invoices received by June 15, 2022, are guaranteed for processing for FY2022. However, please continue to submit all Invoices through June 24, 2022, as we will continue to process transactions as time permits. The last check printing day is June 27, 2022.  Invoices with a due date after June 30, 2022, cannot be approve until after FY2023 opens in July.

NOTE 3:  buyW&M PO invoices must be completed and synched to Banner by June 24, 2022 in order for payment to be processed by the last check printing day on June 27, 2022.  Any invoices with a due date after June 30, 2022, cannot export to Banner until after FY2023 opens in July.  Which means the invoice date and receiving date must be before May 31st to ensure automated processing will capture invoice payment by June 24th, or you can assign the invoice with a NET1 pay term if you have use or lose funds for the end of the fiscal year.  Any buyW&M PO invoices with a 1W/2W or 1V/2V index must be completed and synched to Banner by June 15, 2022.

**

We understand there may be situations that require an exception to this schedule.  Please contact the individuals listed above, based on document type, in order to accommodate any necessary adjustments.

Thank you in advance for your efforts in meeting these deadlines.